Tuesday 10th December 2013
KPMG’s Restructuring team is celebrating after picking up four awards and a number of commendations at this year’s Institute of Turnaround (IFT) annual awards ceremony.
The highlight of the event was John Darlington being named IFT Turnaround Professional of the Year for his turnaround work on LINPAC.
Additionally, the team was rewarded for a successful 2013 by winning SME Company Turnaround of the Year for its work on Bowlplex; Financial Restructuring of the Year for its work on Mouchel; and a special commendation in the Private Company Turnaround of the year category for its work on LINPAC.
The IFT Awards – widely regarded as Europe’s top business transformation awards - recognise companies and organisations that have returned to strength, having faced difficulties over the last few years, thanks to excellent strategy and leadership.
Richard Fleming, Head of Advisory at KPMG, commented: “I am incredibly proud that our Restructuring practice has won four prizes at the IFT Awards. We have consistently delivered a high quality of turnaround and restructuring services, leading the market by combining experience and innovation to meet the high expectations of our clients.
“I am particularly delighted that John Darlington won the Turnaround Professional of the Year award, both for his Chairman role and for his turnaround work on LINPAC. This is the fourth time John has been recognised by the IFT for his work in the turnaround industry, and is enormous recognition of his achievements through his career to-date. Special mention also went to Colin Haig as CVA Supervisor for Bowlplex, which was named SME Company Turnaround of the year.”
The KPMG team was awarded Private Company Turnaround of the Year for LINPAC, the global packaging group, after it helped the business to realise value following the 2009 KPMG-led debt restructuring in which the lenders took 100 percent control, thereby avoiding insolvency. In addition, KPMG was shortlisted in the same category for the turnaround of Arran Isle.
KPMG’s work with Mouchel took the award for Financial Restructuring of the Year. Richard Fleming said: “Our work with Mouchel culminated in the de-leveraging of its balance sheet and the lenders providing new money, which in turn created a platform for Mouchel to implement in full its operational turnaround plan and regain its competitive position in the market.”
For further press information please contact:
KPMG Corporate Communications – Transactions & Restructuring
Tel: 0161 246 4623
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.